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Entrepreneurship

Entrepreneurship. 1.2. What is an Entrepreneur?. People who launch and run their own businesses At first, they must perform many of the basic management functions Estee Lauder , Kellogg , General Electric , Microsoft , Dell , Land’s End All started by entrepreneurs!.

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Entrepreneurship

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  1. Entrepreneurship 1.2

  2. What is an Entrepreneur? • People who launch and run their own businesses • At first, they must perform many of the basic management functions • Estee Lauder, Kellogg, General Electric, Microsoft, Dell, Land’s End • All started by entrepreneurs!

  3. What is an Entrepreneur? • A lot of risk! • Can lose all the money invested in their company • Can be more rewarding than working for a company • High reward!

  4. What is an Entrepreneur? • Tend to me more independent • May have less formal education • Some jump from job to job before starting their own business

  5. What is an Entrepreneur? • Start with an idea for creating or modifying a product or service they believe in • Like being their own boss! • Tremendous satisfaction in their work • Must work long hours and make decisions about every aspect of a business • Without entrepreneurs, there would be no new businesses and fewer exciting innovations in business and industry

  6. What is an Entrepreneur? • Types of ownership • Sole proprietorship: people who run their businesses single handedly • Medicine, dentistry, accounting • Partnership: one or more partners supply the money and runs the business • Corporation: avoid being held personally liable for financial losses

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